AggieMike88
Touchdown! Greaser!
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- Jan 13, 2010
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The original "I don't know it all" of aviation.
Does anyone ever win these who doesn't already have a huge bank account and at least one other plane?
Just curious.
Does anyone ever win these who doesn't already have a huge bank account and at least one other plane?
Just curious.
On the other hand, a Cub does not require a medical for the PIC seat.Cubs are pretty and nostalgic, but I wouldn't be interested in doing a trip in one.
I'm curious what the tax is on something like this. Is it the registration tax for your home state? In NH for a vintage plane that'll be $25.
I didn't sleep in Holiday Inn last night, but I'm pretty sure you'd pay the income tax on the value of the aircraft.
On the other hand, a Cub does not require a medical for the PIC seat.
This is the correct answer. The trick is what value EAA places on the airplane. If they list the value as $100k, the tax bill won't be pleasant.
Steingar, not to get into your business, how'd the tax value placed on your airplane compare with its actual market value? I ask because I've seen EAA and AOPA invest $200k in upgrades on a sweepstakes airplane that had a market ceiling far below that. I always wondered if the paperwork stuck you with a $200k airplane in that situation.
Huh?Neither does my Mooney.